Shell has increased its working interest in the Kaikias field in the U.S. Gulf of Mexico to 100% by acquiring a 20% stake from Mitsui's MOEX North America. The Kaikias field, situated in the Mars-Ursa basin about 130 miles off the Louisiana coast, was discovered by Shell in 2014, with production commencing in May 2018. Utilizing a subsea tieback to the nearby Ursa production hub, this deepwater project has proven to be a productive investment for Shell.

Rich Howe, Shell's Executive Vice President for Deep Water, highlighted the significance of increasing Shell's working interest in the Kaikias field, stating that it provides strategic options for the company's future as a leading producer in the U.S. Gulf of Mexico. Shell, already the primary oil and gas producer in the U.S. Gulf of Mexico, emphasized its long-term commitment to the region. Furthermore, the company noted that the U.S. Gulf of Mexico boasts one of the lowest greenhouse gas (GHG) intensities for scope 1 and 2 globally.

The transaction is subject to federal regulatory approval, and both Shell and MOEX will jointly submit the necessary applications.